XRP Suffers Biggest Hit as Bitget Hack Drains Over 102M XRP
Bitget first said on Sept. 24 that unauthorized transfers hit parts of its hot and warm wallets, while cold wallets stayed unaffected and withdrawals were paused. It later revised the incident to about $387.5 million to include additional Zcash and TRON activity, and then began restoring withdrawals in stages after saying the underlying issue had been patched. [13590][12890][14593]
What this rests on
What it means
Each sentence links inside to the piece that supports it.
Users of the exchange notice the change first through withdrawals, because Bitget paused them after the Sept. 24 transfers and later brought them back in stages. Traders and customers also saw the exchange keep deposits and trading available while it worked through the incident.
Before this, the wallets were presented as an area protected by internal controls; after the incident, Bitget said the relevant vulnerability had been identified and patched, and that withdrawals would return in phases. What stayed the same is that the exchange still described cold wallets as unaffected and said its protection fund covered the loss.
Market reaction
The move was larger before the first headline than after. That is an observation, not an explanation: the market also moves on things nobody publishes.
How the story was built
Every piece in order, with the time its news medium declares — if it is not believable we use ours and say so — and what it added to what was already known at that point. Arriving first is not the same as adding something.
Coinpedia
scoop
BeInCrypto
adds
Decrypt
context
Coinpedia
echo
The Coin Republic
echo
Bitcoin Magazine
adds
Unchained
adds
NewsBTC
echo
Crypto Briefing
echo
Coinpedia
adds
NewsBTC
echo
Coinpedia
echo
Coinpedia
echo
Cryptonews.com
echo
Unchained
echo
Coinspeaker
echo
Cointelegraph
echo
Coinpedia
echo
Protos
adds
BeInCrypto
echo
U.Today
echo
Crypto Economy
echo
Cointelegraph
echo
Crypto Economy
echo
Crypto Economy
echo
Crypto Briefing
echo
Coinpedia
adds
The Daily Hodl
echo
BitPinas
echo
Cointelegraph
adds
AMBCrypto
echo
Crypto Briefing
adds
Crypto Economy
echo
Cointelegraph
echo
Crypto Economy
adds
Crypto Briefing
echo
Bitcoin Magazine
adds
Thefts of a similar size
| When | What happened | Figure |
|---|---|---|
| 8.7 years ago | Coincheck · Wallet stolen incident | $534M |
| 4.5 years ago | Vires Finance · Unknown incident | $530M |
| 3.9 years ago | FTX · Phishing incident | $450M |
| 5.8 years ago | OneCoin · Scam incident | $440M |
| 23 days ago | Bitget · Hot Wallet Key Compromised incident | $387M |
4197 incidents stored · 18 were as large as this one or larger ($463M)
What could happen next
What the prediction markets currently price as likely. This is context, not a forecast of ours: there is money on it, and that is all we show.